Description
Positioned in one of Orange County's strongest rental submarkets, this income-producing property presents a rare opportunity to acquire a large bedroom-count home with immediate cash flow and significant long-term upside. Located just minutes from Chapman University, Historic Old Towne Orange, CHOC Children's Hospital, St. Joseph Hospital, shopping, restaurants, and major freeway access, the property benefits from a consistently strong tenant pool driven by students, medical professionals, and young professionals seeking housing in one of Orange County's most desirable communities. Built in 1922, the residence offers approximately 2,668 square feet above grade (basement not included) on a 7,263 square foot lot. The well-designed floor plan features seven bedrooms and four bathrooms, including one private ensuite bedroom, two spacious living rooms, and one shared kitchen. Six bedrooms share three bathrooms, thoughtfully configured with two bedrooms per bathroom. The basement includes the washer and dryer, central HVAC system, furnace, and water heater, maximizing the functionality of the primary living space. For investors, this property offers compelling value-add potential. Current occupancy leaves an immediate opportunity to increase income. Additionally, existing rents appear below prevailing market rates for comparable private-bedroom rentals near Chapman University, creating further upside through strategic lease renewals and professional management. The surrounding neighborhood has demonstrated strong long-term appreciation, supported by Chapman University's continued expansion, ongoing investment in Historic Old Towne Orange, proximity to world-class healthcare employers, and limited inventory of large homes suitable for student and shared housing. These market fundamentals have consistently driven both rental demand and property values, making this an attractive acquisition for investors seeking stable cash flow with meaningful appreciation potential.
Details
| MLS # | PW26150599 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1922 |
| Days On Site | 100 |
| Listing Provided By | SVN / Vanguard | Cameron Irons |
Features
| Bed(s) | 7 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 2,668 |
| Garage | 2 |
| Basement | Y |
| Story(s) | 1 |
| Units | 1 |
| Acreage | 0.17 |
| Property View | None |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Central |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Interior Features | All Bedrooms Down, Bedroom On Main Level, Main Level Primary |
| Appliances | Dishwasher, Dryer, Washer |
| Fireplace Yes / No | Yes |
Parking
| Attached Garage Yes / No | No |
|---|---|
| Garage Yes / No | Yes |
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Street Lights, Suburban, Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Orange |
| City | Orange |
| Zip Code | 92866 |
| Area | OTO Old Towne Orange |
| Listing VS Median (in 92866) | |
Price: $1,688,000 low | high Med: $1,499,000 sqft: 2,668 low | high Med: 2,163 $ / sqft: $633 low | high Med: $693 On site: 100 low | high Med: 90 | |
Market Activity 92866
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Learn More About This Property
| State | CA |
|---|---|
| County | Orange |
| City | Orange |
| Zip Code | 92866 |
| Area | OTO Old Towne Orange |
| Listing VS Median (in 92866) | |
Price: $1,688,000 low | high Med: $1,499,000 sqft: 2,668 low | high Med: 2,163 $ / sqft: $633 low | high Med: $693 On site: 100 low | high Med: 90 | |
 | $1,624,000333 335,337 E La VetaOrange, CA 92866 |